Superlogic, a startup that helps give shoppers a strategy to apply rewards factors towards experiences, has raised $13.7 million at a $200 million valuation, the corporate tells TechCrunch solely.
Lin Dai, CEO and co-founder of Miami-based Superlogic, mentioned his firm’s know-how is designed to “improve the worth of rewards factors” by giving shoppers a broader vary of choices in learn how to use them. Its platform plugs straight into current loyalty packages for bank card corporations, airways, and retailers.
Superlogic companions with manufacturers to assist provide shoppers what Dai described as “a catalog of experiences” that customers can select from as a substitute of conventional points-based rewards, equivalent to a lodge keep or industrial flight. Examples embrace NBA Finals tickets, “unique” tickets to music festivals, a behind-the-scenes take a look at a Broadway manufacturing, or personal eating with high cooks
As a result of its providing is white-label, you received’t essentially know you’re utilizing Superlogic’s know-how if you redeem the rewards by corporations equivalent to American Categorical, Mastercard, Visa, and Warner Music. The platform additionally manages the stock of experiences, negotiates with suppliers, and handles funds on behalf of the manufacturers it really works with.
Whereas Dai declined to reveal arduous income figures, he did say the corporate notched “eight-figure-plus” income in 2024 and noticed “important progress year-over-year.”
Many individuals don’t notice that unused rewards/factors may be thought-about a legal responsibility for a bank card firm.
When a shopper earns factors again on a purchase order, that cash technically belongs to the buyer, Dai explains.
“So then it’s cash that the bank card firm, for instance, owes the buyer,” he mentioned. “For each 100 factors, there’s about $1 that the rewards firm needed to put apart to again that debt to their very own prospects… and say if a Fortune 500 model goes bankrupt, these factors truly must be paid out to the buyer.”
In different phrases, it’s in an organization’s finest curiosity to have shoppers money in on these factors.
Superlogic makes cash by taking what Dai described as a “small margin share” on the transactions of when a shopper redeems factors for an expertise it helped facilitate.
“There are $25 billion value of unredeemed factors sitting on consumer accounts and bank cards packages’ stability sheets,” he instructed TechCrunch. “Our TAM may be very excessive.”
Powerledger led the spherical, which was structured as a SAFE. Sangha Capital, 10SQ, Nima Capital, Actai Unicorn Fund, Hyla Liquid Enterprise Fund, and Liquid 2 Ventures additionally participated. Earlier buyers embrace Amex Ventures, Warner Music, Galaxy Interactive, Mirabaud Life-style Influence and Innovation, Recharge Capital, Dispersion Capital, and Sanctor Capital, amongst others. The capital infusion brings Superlogic’s whole fairness funding to greater than $21 million since its 2017 inception.
Jemma Inexperienced, government chairman of Powerledger, instructed TechCrunch that her agency invested in Superlogic as a result of it helps manufacturers keep away from “exorbitant” sponsorship charges and “signal hundreds of offers with experiential suppliers to supply VIP experiences at scale to their most loyal prospects.”
She added: “This means to interact shoppers powerfully with minimal price and complexity is mostly a recreation changer.”
Presently, Superlogic has just below 40 staff.
The corporate plans to make use of the brand new capital towards its launch with about half a dozen packages this 12 months — ramping up employees, operations, and product capabilities, Dai mentioned, “to assist the anticipated new quantity.”
Need extra fintech information in your inbox? Join TechCrunch Fintech right here.
Wish to attain out with a tip? Electronic mail me at maryann@techcrunch.com or ship me a message on Sign at 408.204.3036. You too can ship a be aware to the entire TechCrunch crew at ideas@techcrunch.com. For safer communications, click on right here to contact us, which incorporates SecureDrop and hyperlinks to encrypted messaging apps.
